This refers to the aspect of buying and selling of real estate assets in a certain form, then upgrading their use into a higher value taking highest and best use considerations.
At Fortress Property Consultants our service offering is for both land and buildings in so far as property development is concerned. We achieve property development through embracing the following 7 stages of Property Development
1. Pre-purchase stage
– team formation
– Finance securing
– Development site securing
– Risk identification & mitigation
– Feasibility Assessment
2. Negotiating contracts
– tendering for suppliers
– Negotiating prices
– Contract drawing
3. Town Planning & Development approval
– Engage the services of a Town Planner
– Understand the Local Planning Authority town planning requirements
– Obtain relevant permits
– Secure development approval
4. Working drawings & documentation
– Engage the services of an Architect
– Work with Engineers (various disciplines depending on scope of development)
– Development design
– Obtain design approval
5. Pre-Construction
– Engage services of a Project Manager
– Compare contractors
– Selection of contractor based on competence, workmanship, cost in terms of value for money
– Enter into a contract
6. Construction
– Preparation of site
– Provision of off-site and on site infrastructure
– Supervision of the construction process
– Having contingency plan(s) for unexpected delays
– Obtain certification at key stages of the development project
7. Completion
– Hand over of development to client
– Give recommendations on retaining for rentals or disposal through property sale